4009 Richland Ave NW · Roanoke, VA 24012

$214,950

4 bd · 1.0 ba · 1,105 sqft · SingleFamily public records · 23 Days on market

Built 1948 6,969 sqft lot Est $223k · at est.

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Why this score? — see what drove the D+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +14.7/30.0
• ARV discount +9.2/15.0
• Rent growth +5.0/5.0
• DSCR +4.5/10.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• 1% rule +3.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming 4 Bedroom Home offering comfort and value. Features include insulated tilt-in windows for energy efficiency and easy cleaning, plus a new Roof installed in 2019 for added peace of mind. Enjoy the Fenced Yard which is perfect for pets, play, or outdoor relaxation. A great opportunity for homeowners or investors alike!

Key facts

• 6,969 sq ft lot
• Built 1948
• Listed 23 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $55 ($657/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $182k (15.5% below list).
• Recommended offer: $182k (15.5% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 4.2% in Roanoke — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 73/100 on livability (#163 in VA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, housing A; Watch: amenities C-, employment D, crime F.
• Roanoke City Public School District (urban): math 40% / reading 58% proficiency, ranked #102 of 131 in VA (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Preston Park Elementary (math 33% / reading 51%, grade F, #866 of 1,108 statewide, top 80%, 505 students, 102% FRL); Breckinridge Middle (math 23% / reading 52%, grade F, #315 of 342 statewide, top 93%, 624 students, 99% FRL); William Fleming High (math 66% / reading 68%, grade B, #185 of 319 statewide, top 61%, 1,911 students, 96% FRL) — zoned schools average 99% FRL vs 67% district-wide (32 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+10.5%/yr); 196 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 113 units permitted in Roanoke city in 2024 (0 in 5+ unit buildings).
• This rent runs 41% of the median local income ($53k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k of value loss. Plan a longer hold.
• Roanoke County population projected at +11% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 25y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $84k; list at $215k implies a 156% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: extreme-heat days projected 7→17/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $181,664 (15.5% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.85% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.09%
• DSCR: 1.05
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $223,210
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2626 Dorchester Dr NW	0.26mi	3/1.0 (-1)	1,068 (-3%)	12mo	$199,900	$187	67
4820 Rutgers St NW	0.53mi	3/1.0 (-1)	1,051 (-5%)	3mo	$200,000	$190	60
2508 Churchill Dr NW	0.51mi	3/1.5 (-1)	1,152 (+4%)	8mo	$210,000	$182	56
2610 Vancouver Dr NW	0.34mi	3/1.5 (-1)	1,252 (+13%)	9mo	$143,000	$114	48
2432 Ravenwood Ave NW	0.37mi	3/1.0 (-1)	951 (-14%)	8mo	$145,000	$152	48
3023 Birchlawn Ave NW	0.48mi	3/1.0 (-1)	989 (-10%)	11mo	$212,000	$214	46
4846 Eden Dr NW	0.57mi	3/1.0 (-1)	945 (-14%)	10mo	$195,000	$206	36
2431 Durham St NW	0.63mi	4/1.5	1,225 (+11%)	18mo	$168,000	$137	35
2630 Edinburgh Dr NW	0.50mi	3/1.0 (-1)	983 (-11%)	22mo	$199,000	$202	35
3315 Birchlawn Ave NW	0.64mi	3/1.0 (-1)	958 (-13%)	12mo	$209,000	$218	32
132 Troy Ave NE	0.67mi	3/2.0 (-1)	1,218 (+10%)	16mo	$274,000	$225	29
2903 Oakland Blvd NW	0.53mi	3/2.0 (-1)	1,232 (+12%)	22mo	$250,000	$203	29

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -9.5%
• Equity multiple: 0.64×
• Total profit: $-21,782
• Equity at exit: $32,050

10-year hold

• IRR: 5.4%
• Equity multiple: 1.48×
• Total profit: $29,065
• Equity at exit: $18,585

Cash invested: $60,186 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 55 Moderately Landlord-Leaning
• State Virginia: 55 Moderately Landlord-Leaning · D+2
• County: — inherits STATE
• City: — inherits STATE

VRLTA gives some tenant protections; Northern Virginia courts slower; rural VA landlord-leaning.

Methodology + full state rankings →

ZIP-level market 24012

• Rents YoY: 10.5%
• Active inventory: 196
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $1,817 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$164 /mo · $1,964/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$381
• Net cashflow: $55

Break-even live

Break-even rent $1,747

Max offer price $214,950

Occupancy floor 92%

Sensitivity live

Price	-10% $176	-5% $116	+0% $55	+5% $-6	+10% $-67
Rent	-10% $-89	-5% $-17	+0% $55	+5% $126	+10% $198
Rate	-1.0pp $163	-0.5pp $109	base $55	+0.5pp $-1	+1.0pp $-58

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $53,738
• Closing costs: $6,448
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4823 Rutgers St NW Roanoke, VA	1.0–3.0	1.0	771	$1,399	$1.81	15d	5	0.56mi
5125 Airport Rd NW Roanoke, VA	3.0	1.0	1000	$1,695	$1.70	15d	1	0.79mi
3323 Collingwood St NE Roanoke, VA	3.0	2.0	1200	$2,150	$1.79	45d	1	0.85mi
3228 Oliver Rd NE Roanoke, VA	3.0	1.0	1017	$1,150	$1.13	22d	1	0.94mi
4532 Tacoma Ave NE Roanoke, VA	3.0	1.0	1092	$1,550	$1.42	15d	1	1.29mi
1531 Syracuse Ave NW Roanoke, VA	3.0	1.0	1488	$1,675	$1.13	45d	1	1.30mi
1533 Rugby Blvd NW Roanoke, VA	3.0	1.0	1500	$1,475	$0.98	45d	1	1.37mi
1115 Grayson Ave NW Roanoke, VA	4.0	2.0	1094	$2,300	$2.10	45d	1	1.43mi
2731 Cove Rd NW Roanoke, VA	3.0	2.5	1427	$1,523	$1.07	45d	1	1.44mi

Listing history 22 events

1. 2026-04-25
   status Pending
2. 2026-04-20
   price $214,950
3. 2026-04-02
   listed $219,950 Active
4. 2026-03-28
   historical $219,950
5. 2025-10-09
   price $219,998
6. 2025-09-18
   status Active
7. 2025-09-11
   status Pending
8. 2025-09-11
   historical
9. 2025-09-03
   price $224,998
10. 2025-08-27
    listed $239,998 Active
11. 2010-10-22
    historical
12. 2010-09-22
    listed $114,950
13. 2010-09-21
    historical
14. 2010-03-24
    listed $114,950
15. 2010-03-20
    historical
16. 2009-10-20
    listed $119,950
17. 2001-05-30
    soldstatus $83,950
18. 2001-05-22
    soldstatus $83,950
19. 2001-05-22
    soldstatus $83,950
20. 2001-03-05
    listed $83,950
21. 1994-03-17
    soldstatus $60,000
22. 1992-04-10
    soldstatus $55,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast VA · Resets to sale price

• Current annual tax: $1,964 · $164/mo
• Projected year-2 tax: $1,964 · $164/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 5/10 Major 7 d/yr ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,800
• − Mortgage interest: −$12,041
• − Property taxes: −$1,964
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,744
• − Management: −$1,744
• − Depreciation: −$6,253
• Taxable loss: −$3,020
• Est. tax savings @ 24.0%: +$725
• After-tax cash flow: $1,382/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Roanoke City Public School District
• NCES district ID: 5103300
• Math proficiency: 40% ▼ -38.00%
• Reading proficiency: 58% ▼ -12.00%
• Median HH income: $38,592
• Composite: 40.8/100
• National rank: #3639
• State rank: #102 of 131 in VA

Livability — Roanoke

• Score: 73/100
• State rank: #163
• US rank: #5055

Category grades

Amenities C- Commute F Cost of living A+ Crime F Employment D Housing A Health & safety A+ User ratings B

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roanoke, VA
• County: Roanoke City · 101,625 people
• City population: 168,930
• Metro: Roanoke, VA
• Population (ZIP): 28,235
• Household income: $52,973
• Rent vs Own: 47.2% rent · 52.8% own
• Severe rent burden: 1360.0

Population outlook (Roanoke County) Hauer SSP2

• Today (2025): 106,094 people
• By 2030: 108,927 · +2.7%
• By 2040: 114,104 · +7.5%
• By 2050: 118,032 · +11.3%
• By 2075: 123,363 · +16.3%
• By 2100: 116,827 · +10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 60% Black 16% Hispanic / Latino 14% Two or more races 13% Asian 4%
• Hispanic origin (detail): Mexican 4% Dominican 1%
• Common ancestry: Romanian 2% Slovak 2% Serbian 1%
• Foreign-born: 11% · Canada, Vietnam, Jamaica
• Languages at home: 84% English-only · Spanish 11% Other Asian/Pacific 2% Vietnamese 2%

Political lean MEDSL · Roanoke

• 2024 margin: Strong D (+23.6) · D 61.1% · R 37.5% · Other 1.4%
• 2008→2024 swing: +0.2pp no change · 2008: 23.4pp · 2024: 23.6pp
• All cycles: 2024: D+23.6 2020: D+25.8 2016: D+17.6 2012: D+21.5 2008: D+23.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -137.94%
• Current HPI: 186.9007
• Rent YoY: ▲ 10.46%
• Metro: Roanoke, VA
• State GDP YoY: ▲ 2.40%
• F500 in state: 50

Industry mix (Fortune 500 HQ in VA)

Industry	F500 HQs	Revenue
▸Aerospace / Defense	4	$236B
▸Technology / Defense	3	$32B
▸Financial Services	2	$176B
▸Utilities	2	$27B
▸Insurance	2	$25B
▸Technology	2	$15B

Price history

+290.8% since first listed

22 events — show timeline

• 2026-04-25 Pending — MLSRV
• 2026-04-20 Price Changed $214,950 MLSRV
• 2026-04-02 Listed $219,950 MLSRV
• 2026-03-28 Coming Soon $219,950 MLSRV
• 2025-10-09 Price Changed $219,998 MLSRV
• 2025-09-18 Relisted — MLSRV
• 2025-09-11 Pending — MLSRV
• 2025-09-11 Listing Removed — MLSRV
• 2025-09-03 Price Changed $224,998 MLSRV
• 2025-08-27 Listed $239,998 MLSRV
• 2010-10-22 Listing Removed — MLSRV
• 2010-09-22 Listed $114,950 MLSRV
• 2010-09-21 Listing Removed — MLSRV
• 2010-03-24 Listed $114,950 MLSRV
• 2010-03-20 Listing Removed — MLSRV
• 2009-10-20 Listed $119,950 MLSRV
• 2001-05-30 Sold (MLS) $83,950 MLSRV
• 2001-05-22 Sold (Public Records) $83,950 Public Records
• 2001-05-22 Sold (Public Records) $83,950 Public Records
• 2001-03-05 Listed $83,950 MLSRV
• 1994-03-17 Sold (Public Records) $60,000 Public Records
• 1992-04-10 Sold (Public Records) $55,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,964 · +8.3% YoY. Source: county tax records.